Mukesh Ambani's RLC-Jio Financial Services Demerger

Mukesh Ambani's RLC-Jio Financial Services Demerger

In the light of RIL's closing price which is at Rs. 2,853, and according to the implicit value of the entity post-demerging amounts to Rs. 2,707, on the other hand, while RSIL stands at Rs. 133. Reliance Industries informed it's shareholders on July 20 about the post-demerger cost of obtaining RIL shares, set at 95.32 percent, with the remaining 4.68 percent RSIL shares accounting. It is instructed by the company that shareholders are supposed to distribute their pre-demerger equity share acquisition cost accordingly, as stated in an official filing with the exchange. 

RSIL short form of Reliance Strategic Investments Limited, is already scheduled to be demerged from RIL on July 20 and it will be also rebranded as Jio Financial Services (JFS) before eventually being listed on various exchanges.

Reliance Industries Ltd. (RIL), the oil-to-telecom tie-up led by billionaire Mukesh Ambani, but now he will demerge its financial arm Jio Financial Services (JSFL) today, July 20, 2023. In May, shareholders and creditors greenlit the spinoff of Reliance Strategic Investments Ltd, which will be rebranded as Jio Financial Services. As a result of the demerger of its financial services arm, RIL's shares will not be available to its users for normal trading for the initial 45 minutes on Thursday, July 20. On the NSE, till now RIL's shares settled 1.15 percent higher at Rs. 2,853 apiece.

The filing made it clear that this communication aimed to benefit shareholders, and the company disclaimed any explicit or implicit liabilities associated with this guidance.
According to the arrangement scheme, RIL shareholders will receive one share of the demerged entity Reliance Strategic Investments for each share they hold in the conglomerate.
The National Stock Exchange (NSE) will conduct a special pre-open session for RIL between 9 a.m. and 10 a.m. today to determine the ex-demerged entity's price. The difference between this price and RIL's last closing price will be utilized to include RSIL or JFS as the 51st entity on Nifty 50.

However, it's essential for investors to note that this new stock is not tradable yet and will remain in Nifty 50 at a constant price until the official listing date is announced. Three days after the stock lists, it will be removed from Nifty 50.

RIL-Jio Financial Services Demerger LIVE: NSE, BSE Initiate Special Pre-Open Session

Reliance Industries has commenced trading in a special session to ascertain the value of Jio Financial Services, its demerged financial services unit. RIL's stock had concluded at ₹2,841.85 on the previous Wednesday. NSE and BSE are currently holding a ‘pre-open call auction’ session for Reliance between 9:00 a.m. to 10:00 a.m.
The record date for the Reliance-Jio Financial Services demerger is today, July 20, 2023, with the demerger ratio set at 1:1.


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